Based on VA guidelines, the VA limits their loan guarantees to a maximum of $417,000 unless it’s listed higher based on county limits. In the case of Kings County, California, that limit falls within the $417,000 figure. That’s for a $0 down, VA home loan limit.
Located in California’s Central Valley, Kings County is a rich agricultural region and boasts a population of 152,982. Kings County is home to NAS Lemoore, the Navy’s newest and largest master jet station. Kings County also is home to three state prisons run by the California Department of Corrections and Rehabilitation.
To find out more about Kings County’s limits call 888-573-4496.
Cities that make up Kings County include Hanford, which is the largest, along with Lemoore, Corcoran, Avenal and Amona. Hanford is the cultural hub of Kings County, and offers many agricultural and craft fairs, unique merchants and restaurants and other attractions. Kings County features a brad range of housing, and the current median home price is 204,800.
For veterans in Kings County, the VA loan can help you purchase a home. Why go with a VA loan? There are many reasons! And the first reason is that you’ll get a mortgage that has a competitive interest rate. With a VA loan, your lender is protected against loss from loan default up to the amount that is protected, so you end up with more competitive rates and added flexibility to purchase a great home. As with other loans, you’ll be required to pay certain funding fees but you won’t have to concern yourself with financing your down payment on a VA loan…all VA loans are zero down. To determine your eligibility apply for a VA loan.
So what can you do with a VA loan? You can purchase a home, build a new home, or make improvements and upgrades to your current home. Many veterans are taking advantage of today’s low interest rates by refinancing their loans, which results in lower monthly payments. You can also add energy-efficient upgrades to your home as well.
Competitive rates are just the beginning. VA loans offer many other advantages, too! Your VA loan is assumable, just as long as the person assuming the loan is qualified. You’ll never be asked to pay more than what is considered a fair price on closing costs; the VA limits these costs for your protection. Plus, you can always prepay a VA loan without a penalty. To speak with a VA loan specialist call 888-573-4496.
Here’s one more reason to consider; if you find that you’re having a problem making your monthly payments, the VA will be ready to assist you with help and advice.
Be aware, though, that just because you’re eligible to apply for a VA loan doesn’t mean you’ll be automatically approved. There are requirements, as with any other lender, that you’ll need to meet for loan approval.
Here are some things to help you through the approval process:
• Review your credit report! Make sure that everything on your report applies to you, and if not, report it.
• The VA looks closely at the previous 12 months, so make sure you make all of your payments on time. And please note that some lenders require a minimum credit score
• The VA wants to know that you cannot only pay your mortgage on time, but all of your other monthly expenses, too. Depending on your family size and location, they will provide you with minimum requirements for loan approval
• One thing they look at is employment: they would like to see 2-years of continuous employment when you apply for a loan. If you don’t have that, be prepared to offer an explanation as to why not
If you’d like more information or assistance applying for your VA loan in Kings County, the professionals at VA Home Loan Centers are ready to help! Call us 888-573-4496 or use the Live Chat function at the lower right hand corner of your screen.
